4B, Economic Development Authority (EDA) 2013 Work Plan

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lt EN HILLS MEMORANDUM DATE: January 28, 2013 TO: Economic Development Authority (EDA) Board of Commissioners FROM: Patrick Klaers, City Administrator SUBJECT: EDA 2013 Work Plan Background/Discussion On February 21, 2012 the City Council met in a work session to discuss the need for an EDA in Arden Hills. The City established an EDA in 1996, and in 1997, the City Council transferred authority over the TIF Districts to the EDA. At the February 21, 2012, Council work session, Director of Finance and Administrative Services Sue Iverson reviewed with the Council the status of the TIF Districts and the status of the Revolving Loan Program. Attached for your review is the February 21 sc memo from Sue. Most of the items noted in Sue's memo from 2/21/12 are proposed to be included in the EDA work plan for 2013 -14. If the proposed by-laws are approved,then the quarterly EDA meetings in 2013 are scheduled for April 29, July 29 and October 28. The proposed work program includes: Proiect/Activity Timeline 1. Finalize the TIF Policy (includes a chart 1. Special EDA work session meeting for the ranking of applications) and in February or March; April EDA update the Business Subsidy Policy meeting agenda. 2. Research the City revolving loan 2. April and July EDA meetings program including loan restrictions and guidelines; consider/decide future program activities 3. Consider using TIF 2 District funds for 3. July EDA meeting; and if the project a Round Lake Road West street and moves forward, it will be on all the sanitary sewer improvement project in EDA quarterly agendas until 2014 completed at the end of 2014. 4. EDA 2014 operating budget- review 4. July and October EDA meetings and consideration (the EDA needs to identify and approve a sustainable revenues source)